Anti-viral, Anti-bacterial Paints to Dominate Aliphatic Solvents Market Owing to Rise in Awareness about Maintaining Hygiene during COVID-19 Pandemic, Says TMR
- Upsurge in construction activities in various countries is likely to serve as a vital growth factor for the aliphatic solvents market
- High absorbency, low water solubility, versatility, and less toxicity are some significant benefits of aliphatic solvents
ALBANY, N.Y., Sept. 1, 2021 /PRNewswire/ -- The extensive use of aliphatic solvents in various end-use industries such as adhesives, aerosols, printing inks, oil & gas, rubbers & polymers, cleaning & degreasing, paints & coatings, etc. is expected to drive the aliphatic solvents market during the forecast period of 2020-2030.
The disposable income of many individuals has increased over the years. This aspect has led to an upgrade in the standard of living. As a result, car ownership levels have increased substantially. Aliphatic solvents are a vital component in developing coatings used for vehicles. Thus, the surge in the sales of vehicles is boosting the aliphatic solvents market.
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Aliphatic solvents are a category of aliphatic compounds produced by crude oil distillation. Some examples of aliphatic solvents are cyclohexane, naphtha, octane, kerosene, etc. Apart from paints and coatings, aliphatic solvents are also utilized as carriers for disinfectants and aerosols. The use in disinfectants will have a positive impact on the growth structure, as the demand for hygiene products has increased after the onset of the COVID-19 pandemic. Thus, these factors will present substantial growth opportunities to the market.
Transparency Market Research (TMR) has conducted a comprehensive research on various factors associated with the growth of the aliphatic solvents market. TMR analysts estimate the global market for aliphatic solvents to expand at a CAGR of 5.2% during the forecast period of 2020-2030. The global aliphatic solvents market is expected to cross the valuation of US$ 3.34 Bn by 2030.
Rising urbanization in numerous regions and emergence of smart cities are witnessing considerable demand for aliphatic solvents. The growth in urbanization is leading to an increase in construction activities wherein paints and coatings are prime components. As aliphatic solvents are used in paints and coatings for adhesion, corrosion-resistance, and wettability, their demand has increased. Furthermore, the use of aliphatic solvents as lubricating additives in PVC processing will have a significant impact on the growth trajectory of the global market.
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Key Findings of Report
COVID-19 Accelerates Demand for Anti-bacterial, Anti-viral Paints Boosts Aliphatic Solvents Market Growth
The rising awareness about the importance of maintaining hygiene has resulted in the uptake of hygiene products. Vendors in the paints industry are increasing their research activities in developing special paint varieties and hygiene products. Odor-free paints and anti-vital decorative paints are also gaining considerable traction. These factors are anticipated to offer growth opportunities to the players operating in the aliphatic solvents market. In addition, the entry of chemical companies in the disinfectants sector is projected to attract profitable growth opportunities.
Although lockdown restrictions due to the COVID-19 pandemic led to considerable losses, the demand for hygiene products such as disinfectants, sanitizers, etc. increased, thus driving the aliphatic solvents market.
Need for Use of Sustainable Products Drive Popularity of Bio-renewable Printing Inks
The escalating awareness about using sustainable products has led to the development of bio-renewable printing inks. Players in the aliphatic solvents market are focusing on developing bio-renewable and bio-degradable printing inks. Furthermore, the blend of natural resources such as plant and animal materials and polymer building blocks would help in innovations in bio-renewable printing inks.
Some of the key players in the aliphatic solvents market are Carolina International Sales Company Inc., Gulf Chemical & Industrial Oils, Exxon Mobil Corp., Pon Pure Chemicals Group, RB PRODUCTS, INC., Ganga Rasayanie Private Limited, Gadiv Petrochemical Industries Ltd., Recochem Inc., Royal Dutch Shell Plc, and Total S.A.
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Global Aliphatic Solvents Market – Segmentation
By Application
- Paints & Coatings
- Cleaning & Degreasing
- Adhesives
- Aerosols
- Rubbers & Polymers
- Printing Inks
- Others (including Oil & Gas)
By Region
- North America
- Latin America
- Europe
- Middle East and Africa
- Asia Pacific
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